Alliancebernstein L.P. reduced its holdings in shares of Ardmore Shipping Co. (NYSE:ASC - Free Report) by 72.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,790 shares of the shipping company's stock after selling 99,800 shares during the period. Alliancebernstein L.P. owned approximately 0.09% of Ardmore Shipping worth $459,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ASC. American Century Companies Inc. increased its position in shares of Ardmore Shipping by 7.3% in the 4th quarter. American Century Companies Inc. now owns 1,491,507 shares of the shipping company's stock valued at $18,122,000 after acquiring an additional 101,229 shares during the period. Wellington Management Group LLP grew its stake in Ardmore Shipping by 24.6% during the 4th quarter. Wellington Management Group LLP now owns 1,413,554 shares of the shipping company's stock valued at $17,175,000 after purchasing an additional 279,403 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Ardmore Shipping by 5.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,309,826 shares of the shipping company's stock valued at $15,914,000 after purchasing an additional 63,769 shares during the period. Private Management Group Inc. boosted its position in Ardmore Shipping by 16.3% in the fourth quarter. Private Management Group Inc. now owns 1,204,828 shares of the shipping company's stock valued at $14,639,000 after buying an additional 168,731 shares during the last quarter. Finally, Royce & Associates LP increased its holdings in Ardmore Shipping by 24.2% in the 4th quarter. Royce & Associates LP now owns 830,420 shares of the shipping company's stock worth $10,090,000 after buying an additional 161,670 shares during the period. 62.22% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several brokerages have commented on ASC. Evercore ISI decreased their price objective on shares of Ardmore Shipping from $14.00 to $13.00 and set an "outperform" rating for the company in a research note on Tuesday. Stifel Nicolaus dropped their target price on Ardmore Shipping from $13.00 to $11.00 and set a "hold" rating on the stock in a report on Friday, February 14th. Finally, Jefferies Financial Group reissued a "buy" rating and issued a $17.00 price target on shares of Ardmore Shipping in a report on Thursday, February 13th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $13.67.
View Our Latest Stock Analysis on ASC
Ardmore Shipping Price Performance
Shares of ASC stock traded up $0.19 during mid-day trading on Friday, hitting $9.56. 136,783 shares of the stock were exchanged, compared to its average volume of 707,094. The company has a quick ratio of 3.86, a current ratio of 4.24 and a debt-to-equity ratio of 0.06. Ardmore Shipping Co. has a 52-week low of $8.32 and a 52-week high of $23.44. The firm has a fifty day moving average of $9.57 and a 200 day moving average of $11.63. The company has a market cap of $386.75 million, a PE ratio of 3.13 and a beta of 0.16.
Ardmore Shipping (NYSE:ASC - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The shipping company reported $0.25 EPS for the quarter, missing analysts' consensus estimates of $0.33 by ($0.08). Ardmore Shipping had a net margin of 32.78% and a return on equity of 20.48%. Research analysts anticipate that Ardmore Shipping Co. will post 1.06 earnings per share for the current year.
Ardmore Shipping Cuts Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date of this dividend was Friday, February 28th. Ardmore Shipping's dividend payout ratio is presently 10.46%.
About Ardmore Shipping
(
Free Report)
Ardmore Shipping Corporation engages in the seaborne transportation of petroleum products and chemicals worldwide. The company's fleet consists of 22 owned vessels including 21 Eco-design and 1 Eco-mod vessel, and four chartered-in vessels. It serves oil majors, oil companies, oil and chemical traders, chemical companies, and pooling service providers.
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